New Delhi, 25 July (H.S.): Filing Income Tax Returns (ITRs) is mandatory for taxpayers liable to pay income tax. With the deadline approaching, taxpayers have only six days left to file their returns for the financial year 2025-26 (Assessment Year 2026-27). The last date for filing ITRs has been fixed as July 31, 2026.

The Income Tax Department, in a post on X on Saturday, advised taxpayers not to wait until the last moment and urged them to file their ITR-1 and ITR-2 for Assessment Year 2026-27 before July 31, 2026.

The department said taxpayers can visit the official portal, incometax.gov.in, and file their income tax returns before the deadline to avoid any penalty. It urged taxpayers to complete the process within the stipulated time.

The Income Tax Department said that most salaried individuals and personal taxpayers should ensure that their returns are filed through the official Income Tax e-filing portal before the July 31 deadline to avoid last-minute difficulties.

If taxpayers fail to meet the July 31 deadline, they will still have the option to file a belated return. However, delayed filing may result in penalties, additional interest liability and the loss of certain tax benefits.

It is noteworthy that under Section 139(4) of the Income Tax Act, 1961, taxpayers who are unable to file their returns by the due date can submit a belated return by December 31, 2026, or before the completion of the assessment process, whichever is earlier.

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Hindusthan Samachar / Jun Sarkar